The market for paperback detective novels is perfectly competitive. Suppose we have identical book readers, and each individual book reader's demand for paperback novels is given by P=95-2Q. We have 4 book readers in the market. What is the minimum Marginal Willingness to Pay for the book readers buying books when 34 books are bought in the market?

The market for paperback detective novels is perfectly competitive. Suppose we have identical book readers, and each individual book reader's demand for paperback novels is given by P=95-2Q. We have 4 book readers in the market. What is the minimum Marginal Willingness to Pay for the book readers buying books when 34 books are bought in the market?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter5: Supply, Demand, And Price: Applications

Section5.7: Application 7: Why Do Colleges Use Gpa,s Actss, And Sats, For Purposes Of Admission?

Problem 2ST

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